Birchstone

Transformation of a company from the CFO point of view

• Season 1 • Episode 6

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In this episode of Suite Talk, Birchstone CEO and Founder James Arnold sits down with James McArthur, CFO and Chief Transformation Officer of HX Expeditions, to explore what it takes to lead a full-scale business transformation from the inside out. From separating a legacy brand to rebuilding systems, culture and investor confidence, James shares the lessons, challenges and leadership philosophy behind a complex brand separation that reshaped HX into a standalone global expedition brand.

James McArthur is both Chief Financial Officer and Chief Transformation Officer at HX Expeditions. With operations spanning the globe and a product offering that includes voyages to Antarctica, Greenland and the Galápagos, HX underwent a major transformation in 2023. James led the separation of HX from its sister brand Hurtigruten, helping to establish two fully independent, operationally and legally distinct businesses.

⏱ Timestamps
00:00 – Intro
00:41 – The story of HX and its 130-year legacy
02:00 – The impact of the pandemic and the need for transformation
03:08 – What it means to be both CFO and CTO
04:55 – Project Split: separating HX from Hurtigruten
06:10 – Balancing short-term investor goals with long-term strategy
08:43 – The power of marginal gains and daily decision-making
10:46 – Communicating with teams and stakeholders
13:44 – Building trust through transparency and consistency
16:10 – Leading across global teams and remote operations
20:28 – Creating a culture of support and accountability
22:04 – Managing cultural change during a brand separation
25:21 – Reimagining systems and technology for a new business model
27:48 – Lessons learned from the hardest parts of the transformation
31:41 – Forecasting, scenario planning and financial leadership
33:10 – The role of AI and automation in finance
34:45 – Advice for CFOs starting a transformation
39:33 – What James would tell his 20-year-old self


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